Debt has become a huge issue for many students these days, and many can’t find their way out. Lately, student loan forgiveness programs offer great opportunities to whittle the debt mountain down.
The most popular fields that offer programs to repay loans fall into three categories, and really man, many jobs will offer some form of loan forgiveness. The most important factors usually stay the same in any field.
What Does Student Loan Forgiveness Do?
You’ve heard of grants and other awards, like the Pell grant, or perhaps the National Merit Scholarship? Think of loan forgiveness as a backwards type of scholarship or grant: you get money after you go to school to pay for your tuition and expenses that you paid with a student loan.
Why do organizations and governments do this? Because of those three categories mentioned above. Here they are:
- Low paying civil service or nonprofit jobs
- Unwanted jobs located in less desirable areas
- Specific fields that need more workers
The Most Common Fields
The list below represents the most common positions or groups of people to receive some kind of loan forgiveness:
1. Public and some private school teachers
2. Child care workers
3. Peace Corps and Americorps volunteers, which includes the VISTA program (Volunteers In Service To America)
4. Public defenders and other government employed lawyers
5. Medical workers including doctors and nurses, mainly in areas of critical need
6. Social workers in state or local government positions
7. Law enforcement or public safety officers, such as police and firemen, for example. Some military positions also receive benefits.
Your field could have several programs available, since so many programs offer help. Application requirements will vary by length of service, salary, location, and programs in your area, and even the needs of the government or local schools, for example.
To find out if you qualify, check with your university first. Then contact your state government and see if the state has any programs, Usually the department of higher education administers the program. Also, the federal government offers several programs, too.
If you find yourself still in college, you might consider taking that first job in a field that will offer you some loan assistance while you get some experience and your expenses still remain low.
Good luck!
And if you need money for college information, come to free money for college information to download my free short financial aid reports. Visit student loan forgiveness for more information about forgiveness programs.
